Poker Chip Value Calculator
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Step 3 of 10: Chips Setup
The Independent Chip Model (ICM) is a model for giving monetary value to chip stacks in tournaments. The ICM evaluates chip stacks by estimating the probability of each player finishing in a particular place and calculating their equity in the prizepool. The ICM is based on specific assumptions, therefore it has certain limitations.
I typically use 5 total chip colors with the following values:
Poker Chip Value Calculator Value
- White - $25
- Red - $50
- Blue - $100
- Black - $500
- Green - $1,000
I use the Poker Tournament Manager Deluxe chip calculator to determine how many chips of each color I need based on the number of players and the buyin chip value. One thing to consider is that you don't want the players to have to few chips because people will tend to go 'all-in' faster...so it is better to setup your chip distribution so that each player has 20 or more total chips when possible.
I always count out the chips prior to the tournament so that when players arrive and I check them in their initial buyin is ready to go. This greatly speeds up getting your tournament started.
Poker Chip Value Calculator Excel
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